First Choice Realty Company Analysis

Paper Summary:

This paper outlines the real estate industry and provides a company analysis of First Choice Realty, which is a franchise of Century 21 Real Estate. It examines the company in the context of the environmental difficulties which the industry is currently facing and then examines the agency's competitive environment. Finally, the paper offers recommendations to allow the agency to remain viable and relevant in the tightening real estate market.

Table of Contents:
Abstract
Introduction
Overview
Problem Statement
Literature Review
Industry Overview
Market Segmentation
Market Trends
Competitive Market Profile
Managerial Oversight
Conclusions
Alternatives
Analysis and Review
Strategy and Implementation
Pricing
Promotion Strategy
Distribution Strategy
Conclusions and Recommendations
Strategic Action Plan
Break-even Analysis

From the Paper:

"By re-branding itself First Choice and its Principal Broker, Lacey, can expect to not only generate additional revenues but to actually reposition the agency in the local market in such a manner that it will be better positioned to take advantage of the market when the market returns to expansion. Results from previous studies have clearly indicated that the number of signs and the overall impact of onsite signage at a particular location have a significant and positive impact on both the annual sales revenues and the number of annual transactions and the addition of new signage more often than not results in an average revenue increase of 5 % (Longenecker & Moore, 2002, p.89). Based on these observations First Choice should act immediately to re-brand itself with an emphasis on the addition of an electronic sign onsite which will allow the company to customize its marketing messages based on current environmental opportunities in the industry."

Sample of Sources Used:

• Century 21. (2007). Company Profile (online). Retrieved May 26, 2007 from: http://www.century21.com/ learn/ content.aspx?refstr=6.18
• Century 21 First Choice. (2006). Mission statement [Hand out]. Radcliff, KY: Mrs. Evelyn Lacey.
• Cunningham, M. J. (2001). B2B: How to Build a Profitable E-Commerce Strategy. Cambridge,MA: Perseus Publishing.
• Global real estate industry. (2005). Datamonitor, May, 0199-2130.
• McEachern, W.A. (2003). Microeconomics: A contemporary introduction. Mason, Ohio: Thomson South-Western.

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